Malaysia welcomes Japan's proposal to provide Asia with US$11b infrastructure financing

A worker is seen at a construction site in Yangon September 20, 2013. Japan has proposed to provide Asian nations with infrastructure financing of up to US$110 billion (RM392.2 billion). — Reuters pic
A worker is seen at a construction site in Yangon September 20, 2013. Japan has proposed to provide Asian nations with infrastructure financing of up to US$110 billion (RM392.2 billion). — Reuters pic

KUALA LUMPUR, May 24 — Malaysia has welcomed Japan’s proposal on ”Quality Infrastructure Investment” to provide Asia with innovative infrastructure financing amounting to US$110 billion (RM392.2 billion) in five years.

“This will complement the existing efforts undertaken by the Asian Development Bank and Asian Infrastucture Investment Bank,” the Ministry of International Trade and Industry said in a statement released in conjunction with the two-day 21st Asia Pacific Economic Cooperation Ministers Responsible for Trade Meeting in Boracay, the Philippines that ended today.

Malaysian companies would be able to capitalise on these additional sources of funding, it said. — Bernama